Business
Coop Pank AS results for April 2025
Coop Pank’s financial results in April 2025: In April, number of the bank's clients increased by 1,700 and number of active clients decreased by 100. By the end of the month number of clients reached 214,400 and number of active clients reached 101,600. Over the year, customer base has grown by 12%. Volume of the bank's customer deposits decreased by 107 million euros in April. The reduction in deposit volume was a deliberate step, as an additional 250 million euros was raised in March through t
About this update from Coop Pank As
Coop Pank’s financial results in April 2025: Comment by Paavo Truu, Member of the Management Board and CFO of Coop Pank: "In April, Coop Pank issued a large volume of business and home loans, resulting in strong growth of the loan portfolio. Both the leasing and consumer finance portfolios also grew by nearly one million euros each. Since certain provisions must be made from the very first day for all loans, the rapid growth of the loan portfolio was the main reason for the larger amount of provisions booked in April. Despite the ongoing uncertainty in the economy, the quality of Coop Pank’s loan portfolio remains very strong. Due to rapid price increases and changes in the tax system, people have increasingly been purchasing used cars. In response, Coop Pank introduced a new leasing product in April, specifically designed for financing the purchase of used vehicles. Conscious reduction of deposit volume is linked to the successful international covered bond issuance – in March, Coop Pank completed its first issuance of four-year covered bonds in the amount of 250 million euros. Thanks to this, the bank now has access to a long-term and stable funding source, which allows for a partial reduction in the volume of more expensive term and foreign deposits now and going forward." More detailed financial reports of Coop Pank are available at: https://www.cooppank.ee/en/financial-reports Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 214,400. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores. Additional information: Paavo Truu CFO Phone: +372 5160 231 E-mail: [email protected] Attachment